[excerpt] 28/10/2008 - Fiscal policy, says the latest Latin American Economic Outlook (LEO 2009) from the OECD's Development Centre, can be a powerful tool for economic, political and social development in Latin America if taxes are raised efficiently and fairly and spending is directed to promoting growth and reducing poverty and inequality.

Fiscal policy ­ taxing and spending ­ is part of the political process and should contribute to the consolidation of democracy, the report says. LEO 2009 argues that taxes and public spending can directly attack poverty and inequality, twin problems that continue to beset the region.

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